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Data-Logger demo: Calculating Sampling rate from sampling period



Using  EK-LM4F232.
In the demo of data logger, it is mentioned that we can select the Sampling Period from 1/32 s to 1 day, which I checked when I saw the menu on the OLED.  

Firstly what this 1 day  or even 1/32 s sampling period used for, as this is very low?

Since I am supposed to design a digital filter, I need to calculate the sampling rate   Fs .

How do I do this calculation?